New UK firm enters Egyptian market

CAIRO – 7 December 2017: UK-based marine, engineering consultancy and survey organization LOC Group opened a new office in Cairo to boost their presence in the Middle East and North Africa (MENA) region.

Despite being present in Egypt for more than 15 years through working on gas fields of the West Delta Deep Concession, LOC decided to expand their activities by opening a new office to be a bridge for North African markets, a Thursday statement from the British Embassy in Cairo said.

"It now makes good sense to have a solid base in Cairo, employing local talent supported by our international specialist teams," chief executive of LOC Group Andrew Squire said, adding that they are looking forward to developing their relationships while supporting positive economic growth in the region.

Egypt is a significant market for the UK because it has a third of the world’s shipping fleet passes through the Suez Canal, "as a result, there are some significant oil & gas projects underway and in the pipeline, with further opportunities on the West Delta Deep Concession, Atoll and Zohr gas fields in the Mediterranean," the group’s energy director for Europe and Africa Peter Baggaley said.

"The arrival of world class companies like this reflects Britain’s strong support for economic reforms as Egypt’s number one partner building a resilient economy that serves all Egyptian men and women,” UK’s Ambassador to Egypt John Casson said in the statement.

Established in 1979, LOC Group has 34 offices worldwide in 15 countries across Europe, Africa, Americas, Middle East, Asia and Australia.